Enterprise Bank & Trust Co decreased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 14.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,031 shares of the retailer’s stock after selling 1,541 shares during the period. Costco Wholesale accounts for about 2.0% of Enterprise Bank & Trust Co’s portfolio, making the stock its 10th biggest position. Enterprise Bank & Trust Co’s holdings in Costco Wholesale were worth $5,201,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of COST. Norges Bank acquired a new position in Costco Wholesale during the 4th quarter worth approximately $2,323,746,000. State Street Corp raised its stake in Costco Wholesale by 10.2% during the 4th quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock worth $10,389,605,000 after buying an additional 1,697,920 shares during the period. BlackRock Inc. raised its stake in Costco Wholesale by 3.1% during the 4th quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock worth $17,643,166,000 after buying an additional 944,199 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth approximately $202,327,000. Finally, ProShare Advisors LLC raised its stake in shares of Costco Wholesale by 56.0% in the fourth quarter. ProShare Advisors LLC now owns 819,712 shares of the retailer’s stock worth $465,350,000 after purchasing an additional 294,118 shares during the last quarter. 67.52% of the stock is currently owned by institutional investors and hedge funds.
In other Costco Wholesale news, VP Timothy L. Rose sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $566.29, for a total transaction of $2,265,160.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 500 shares of the firm’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $602.03, for a total value of $301,015.00. Following the sale, the executive vice president now owns 9,939 shares in the company, valued at approximately $5,983,576.17. The disclosure for this sale can be found here. Insiders sold 8,998 shares of company stock worth $5,278,469 in the last quarter. 0.22% of the stock is currently owned by company insiders.
Costco Wholesale (NASDAQ:COST – Get Rating) last posted its quarterly earnings results on Thursday, May 26th. The retailer reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $3.03 by $0.01. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. The firm had revenue of $52.60 billion during the quarter, compared to analyst estimates of $51.49 billion. During the same period last year, the company earned $2.75 earnings per share. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. Sell-side analysts expect that Costco Wholesale Co. will post 13.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, April 28th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.79. Costco Wholesale’s dividend payout ratio (DPR) is 28.35%.
Several analysts have recently commented on the company. Credit Suisse Group lowered their price objective on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Robert W. Baird lowered their price objective on Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Loop Capital lowered their price objective on Costco Wholesale from $650.00 to $610.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Oppenheimer increased their price objective on Costco Wholesale to $525.00 in a research note on Friday, June 3rd. Finally, Tigress Financial upped their target price on Costco Wholesale from $520.00 to $678.00 in a report on Thursday, April 14th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $569.56.
About Costco Wholesale (Get Rating)
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
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